Short Interest in American Superconductor Co. (NASDAQ:AMSC) Rises By 28.3%

American Superconductor Co. (NASDAQ:AMSC) was the recipient of a large increase in short interest during the month of December. As of December 31st, there was short interest totalling 3,810,000 shares, an increase of 28.3% from the December 15th total of 2,970,000 shares. Based on an average trading volume of 1,390,000 shares, the short-interest ratio is presently 2.7 days.

Institutional Inflows and Outflows

Hedge funds have recently added to or reduced their stakes in the stock. Healthcare of Ontario Pension Plan Trust Fund boosted its holdings in American Superconductor by 2.2% in the 2nd quarter. Healthcare of Ontario Pension Plan Trust Fund now owns 39,146 shares of the technology company’s stock worth $916,000 after acquiring an additional 828 shares during the period. Amalgamated Bank purchased a new position in shares of American Superconductor during the 2nd quarter valued at approximately $28,000. CWM LLC acquired a new stake in shares of American Superconductor during the third quarter worth approximately $57,000. Quest Partners LLC acquired a new stake in American Superconductor in the third quarter valued at $88,000. Finally, Canada Pension Plan Investment Board acquired a new position in American Superconductor during the 2nd quarter worth $96,000. 52.28% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Separately, Roth Mkm reiterated a “buy” rating and set a $29.00 target price on shares of American Superconductor in a research report on Monday, September 30th.

American Superconductor Stock Performance

AMSC traded up $0.30 on Friday, reaching $28.11. 201,035 shares of the company’s stock were exchanged, compared to its average volume of 868,377. The company has a market cap of $1.11 billion, a price-to-earnings ratio of -561.99 and a beta of 2.28. American Superconductor has a twelve month low of $9.37 and a twelve month high of $38.02. The company’s 50 day moving average is $29.38 and its 200-day moving average is $25.47.

American Superconductor Company Profile

American Superconductor Corporation, together with its subsidiaries, provides megawatt-scale power resiliency solutions worldwide. The company operates through Grid and Wind segments. The Grid segment offers products and services that enable electric utilities, industrial facilities, and renewable energy project developers to connect, transmit, and distribute power under the Gridtec Solutions brand.